Anyone who is considering taking out, or who has taken out, a
Texas life insurance policy will be all too aware of how involved these policies can get. Policy applications are more than a simple case of ‘twenty questions’: they are involved, in-depth assessments of your lifestyle, health, and any other relevant issues deemed to influence your ‘risk’ levels.
But when answering a question a particular way can add to or subtract from the premiums you’ll end up paying, it’s no surprise that some individuals are tempted to bend the truth a little. After all, smokers will pay a lot more in life insurance over their life time, and those with pre-existing conditions are likely to face higher premiums as well. And when money is involved, a lot of people find themselves bowing to the voice in their head that tells them to tell a little white lie.
Unfortunately, telling a white lie on your insurance policy doesn’t just hurt the insurance company, but it might hurt you and your family as well. In fact, it’s likely to have a much bigger impact on the ones you love than on the insurer.
Lying about being a smoker or failing to mention a health condition may result in a claim or pay-out being cancelled or disputed. This could leave your family in financial limbo, which is the last thing that you want for their future. So if you’re tempted to bend the truth on your life insurance application, remember that there’s a reason people say that “honesty is always the best policy”.
